Shares of PC Jeweller rose by as much as 4.17% on Wednesday, September 25, 2024, reaching a fresh 52-week high of ₹157.30. The stock surged following the company’s announcement that its board will meet on September 30 to discuss a potential stock split.
A stock split is when a company divides its existing shares into a larger number of shares, reducing the price per share while keeping the market capitalization unchanged. In its exchange filing, PC Jeweller stated that the board will consider and approve the subdivision of equity shares with a face value of ₹10 each. The meeting will also address the possible appointment of new directors.
PC Jeweller, known for its collections like Anant, Dashavatar, Bandhan, and the Wedding Collection, operates in the manufacturing, trading, and sale of gold, diamond, and silver jewellery.
As of 9:45 am, the shares were trading 1.46% higher at ₹153.24 on the NSE.
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